【Jefferies-2025研报】绩效食品集团(PFGC):投资者日要点.pdf
USA|FoodRetailDistribution
EquityResearch
PerformanceFoodGrouMay28,2025
InvestorDayTakeawaysFLASHNOTE
RATINGBUY
InvestorDayyieldedahigherthanexpectedsales/EBITDAoutlook(F28tgt
of$73-75b/$2.3-2.5b)andadeeperlookintoPFGCssalesmargindrivers,PRICE$89.01^
competitiveadvantagesincross-sellingacrossitsthreedivisions,andanPRICETARGET|%TOPT$102.00|+15%
over-archinggrowthcultureembeddedthroughouttheorg.WhilesomeNT52WHIGH-LOW$92.44-$61.60
uncertaintyexists,F25guidereiteratedandCohasavisiblepipelineforgrowthFLOAT(%)|ADVMM(USD)98.2%|108.51
acrosseachchannelasizablemktshareotythatseemsunderareciated.MARKETCAP$13.9B
ReitBuy.TICKERPFGC
^Priortradingdaysclosingpriceunlessotherwise